Storage arrays and other types of storage systems are often shared by multiple host devices over a network. However, problems can arise in such arrangements in that some storage systems are configured to differentiate performance of data reduction such as compression or deduplication only on the basis of a storage device or a group of storage devices. A given such storage device may comprise a logical storage device such as a particular logical storage volume. Compression or deduplication functionality generally must be activated or deactivated for the entire logical storage volume. Even if that functionality is activated for a given logical storage volume, the storage system will typically perform tests on that volume in order to confirm its data reduction potential before actually performing the compression or deduplication. A user desiring different types of data reduction for different processes of an application running on a host device may have to designate separate storage devices or groups of storage devices within the storage system for handling input-output (IO) operations of each of the different processes of the application. Another possible approach is for the host device to provide out-of-band hints indicating particular storage device extents that are used by the different processes, but such an approach is unduly complex and can adversely impact IO performance. For example, the storage device extents used by the different processes can dynamically change over time and therefore must be carefully managed on both the host devices and the storage array.